re: Options Trading Thread

Did you get PANW?

I am in at 283.08 and I am smiling large!

Anyone following ARM? Premiums are so good just not sure how to play it.

My short term bear take is the SoftBank lockup expiration that occurs 3/12. Would like to go long puts but expensive. Even OOM.

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Anyone following ARM?

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Yes! I shorted it after they reported and made pretty good from it's drop off from people taking profit.


Now I am looking at it long term with PMCC. Just waiting for a better entry price.

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Instead I bought a Uranium miner ETF, which dropped 5% today.

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URNM? I just noticed that it was down 5.2%. I’ve been trying to sell puts on it for over a week. But the IV hasn’t gotten high enough to give decent premium, even with this recent sell off. I had URA for several years in an investment account (looks like all uranium plays took a hit yesterday), and steadily sold calls against it the whole time. But it finally got called away with the big rally in that sector a few months back.

A bit of excitement with the SPX 0DTE trades this week. But all’s well that ends well (I guess).

Picked up a couple of TSLA June 2024 $150 calls today. I am almost never a single leg buyer, but I couldn't resist at this price. We shall see

Todays SPX delta and gamma surfaces for reference. Nice drop off on today expiration.

Bumping for the crew

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Thanks BCreed1. Although last week was excellent, I’ve been a little lazy in coming back to this thread. I just did my “normal” large lots of SPX synthetic strangles and spreads. Went great, but I didn’t feel like I had anything special to mention. I haven’t done much this week because the VIX is back at a 12 handle and premiums sucketh mightily.

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I really need to expand my knowledge in SPX and VIX.

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What have you been doing?

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I have been Playing the swings of AMZN, TSM, DG. I own AMZN and sell calls on it, but this past 2 weeks, I added to that. It has been moving between 175 and 181. When it hit the high, I purchased put spreads, sold them off on the decline and then purchase call spreads.

Selling TSM calls. The premiums are picking up due to reporting soon. So Next week I will pull in 300-500 in sold calls and will play it aggressively. Maybe a .30 delta. My long is way up... so I'm good with taking profit.


Over all still growing and going!

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I really need to expand my knowledge in SPX and VIX.

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I still do some lighter equity options trading in my tax advantaged accounts. But to keep the lights on in my trading business, I only trade index options now. The liquidity and the tax advantages are the main reasons.

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Over all still growing and going!

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Well, it sounds like you’re pretty active and you’ve developed strategies that are working for you. That’s what matters. So

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We have turned it around and now I'm looking to open a trade account for the business. So I'm researching platforms for that.

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I can’t speak with certainty about what Schwab might change or modify in the Think or Swim platform going forward, but that’s what I’ve been using for years. And they’ve admitted that securing this professional level trading platform (and the associated active traders) is why Schwab bought TDA - so I’m hoping that they don’t mess with it, apart from some meaningless logo changes.

Since it seems that you also pay attention to the deltas and IV, and use those factors to initiate options trades, in addition to ToS, I’d recommend TastyTrade. Tom Sosnoff developed the original Think or Swim, sold it and then developed the TastyTrade platform. If you move or open an account with some size, they have some attractive signup bonuses. If Schwab happens to stumble with ToS, that’s where I’m going. And last but not least, there’s Interactive Brokers. That’s another place where you’ll find many pro and semi-pro traders. I’m sure there are others, but for the tools that I use, both ToS and TastyTrade fit the bill.